Mexican Telecom's Bondholders Win Delay Of Ch. 11 Hearing

Law360 (August 20, 2019, 7:45 PM EDT) -- Mexican telecommunications provider Maxcom on Tuesday saw its stay in bankruptcy extended by at least a week after bondholders complained they needed more time to look into the vote on the company’s prepack Chapter 11 plan.

U.S. Bankruptcy Judge Robert Drain denied the request by Maxcom Telecomunicaciones and its U.S. subsidiary, Maxcom USA Telecom, for a Sept. 10 date for the hearing on its Chapter 11 plan, pushing the date back a week after a bondholder committee argued it needed more time to investigate what it claims were “irregularities” in the plan vote.

“I think we need some caution here,” Judge...

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